Preliminary Forecasts for FY 2015 and FY 2016 County Budgets
Nov. 27, 2013
Fairfax County Executive Edward L. Long and Fairfax County Public Schools (FCPS) Superintendent Karen K. Garza presented their preliminary forecasts for Fiscal Years (FY) 2015 and 2016 at a joint meeting of the Board of Supervisors and the School Board on Nov. 26.
Fairfax County is facing budget shortfalls in both FY 2015 and FY 2016 due to increasing spending requirements. In addition, the fiscal forecast projections are impacted by:
- The lack of a long-term deal on the federal budget that creates uncertainty and hurts the county’s economy.
- Income loss during the ongoing federal sequestration.
- The ripple effects on county’s revenues including sales tax receipts, the Business, Professional and Occupational License (BPOL) tax and hotel taxes.
Long is scheduled to present a multi-year FY 2015 and 2016 budget plan at the Feb. 25, 2014 Board of Supervisors meeting. Garza is scheduled to release her proposed budget on Jan. 9, 2014.
Both the county and FCPS FY 2015 budgets begin July 1, 2014.